President Cyril Ramaphosa on Friday, 20 September 2018, announced the
details of an economic stimulus and recovery plan, adopted by Cabinet, which
is set to among others, ignite growth in the South African economy, boost
much-needed job creation and restore investor confidence.
¡§The stimulus and recovery plan we are outlining consists of a range of
measures, both financial and non-financial, that will be implemented
immediately to firstly, ignite economic activity; secondly, restore investor
confidence; thirdly, prevent further job losses and create new jobs; and
fourthly to address some urgent challenges that affect the conditions faced
by vulnerable groups among our people,¡¨ an upbeat President Ramaphosa told
journalists at the Union Buildings in Tshwane.
The stimulus and recovery plan has the following elements:
implementation of growth enhancing economic reforms
reprioritisation of public spending to support job creation
the establishment of an Infrastructure Fund
addressing urgent and pressing matters in education and health
investing in municipal social infrastructure improvement.
Cabinet deliberated on and approved the proposed far-reaching measures,
which encompass a number of related portfolios.
¡V Source: SAnews.gov.za